Bell Partners, among the nation’s largest apartment investment and management companies, announces that it has acquired Quinn35, to be renamed Bell Shrewsbury, a community containing 250 apartment homes and located in Shrewsbury, Massachusetts.
The terms of the deal weren’t disclosed. Bell Partners has managed the community since 2019. Vice chairman Simon Butler, managing director of CBRE’s Northeast & Mid-Atlantic region, brokered the transaction.
Located at 35 Harrington Avenue, the property was acquired on behalf of the company’s Bell Value-Add Fund VIII. With this acquisition, Bell Partners now owns or manages a portfolio of approximately 3,600 apartment homes in nine apartment communities throughout the Boston metropolitan area.
“Boston is one of the 12 target markets across the U.S. that we’ve identified to acquire well-located, quality assets for our Value-Add Fund,” said Nickolay Bochilo, CIO at Bell Partners. “This acquisition supports the fund’s strategy of finding opportunities to add value-enhancing upgrades that appeal to our current and future residents and meet our investment objectives.”
Established in 1976, Bell Partners Inc. (“Bell Partners” or the “Company”) is a privately held, vertically integrated apartment investment and management company focused on high-quality multifamily communities throughout the United States. With approximately 50,000 units under management, Bell Partners is one of the largest apartment operators and renovators in the United States. The Company has approximately 1,250 associates and 8 offices (including its headquarters in Greensboro, N.C.) and offers an extensive and full service platform containing expertise in acquisitions and dispositions, financing, property operations, accounting, risk management and all other related support functions. Bell Partners is led by a senior management team with an average of over 20 years of experience that has invested throughout all phases of the real estate cycle and has helped the Company complete over $13 billion of apartment transactions since 2002, including nearly $1.2 billion in 2017 transaction.
